**Finance Report for 2024** to be read in conjunction with the Accounts for the Year ended 31 December 2024 which have been prepared by the Treasurer and Independently Examined by Andrew Laisby, Retired Financial Planner. A comparison with the previous two years’ expenditure has been included.
Although the hall has been open all year, bookings and activities have still not returned to their pre-pandemic levels plus we have been impacted by the work to build the new by-pass road which has now commenced.
Income from Events has been very similar to 2023 which is a positive sign. These include regular events such as whist drives (2 a month), quizes, bowling, surfers … and one off events such as the Duck Race, Burns Night, and various Highlights productions and music events …
However income from hire of the hall has dropped due to the impact of the work on the new road and, in particular, because we have had to terminate the contract with Sellafield which involved payment for the use of the car park for up to 10 cars during weekdays. And, unfortunately, there was no boost to our income from the use of the car park by Westmorland & Furness Council (£12+k during 2023)
Initially we were informed that Westmorland & Furness County Council were to make a compulsory purchase order for the whole of the car park. This has now been revised to the outer part of the car park but we are still unaware of how much they will be paying and how much we will have to pay provided that they allow us to buy it back again. This leaves us in a very difficult situation as we do not know implications of their purchase!
We have received £4,511 in grants from the CGP Kirkby Ireleth Trust Fund this year. This includes upgrading our lights to LED lighting, funding for the Children’s Treat Christmas Party (for 2023 as well as 2024), 2 new bowling mats, a new laptop, an extension to the staging and a new photocopier. Out most sincere thanks to the Trust Fund!
Our savings account has generated a further £396 in interest.
Our expenditure has increased significantly this year. The cost of utilities was up yet again as were payments for insurance, licences etc. But the most significant increase was in Repairs and Maintenance as a result of the veranda having been stained – this first time since the hall was rebuilt! Miscellaneous expenditure also increased by £2,000 as a result of payment for the bowling mats (for which we received a grant). Other miscellaneous expenditure includes payments such as costs involved in Burns Night, Highlights membership, Bank charges … Due to these outgoings, expenditure was up by nearly £4k!
Unfortunately, unlike in 2023, this increase in expenditure combined with a reduction in income resulted in a shortfall of £11,275!
The Community Hall at Grizebeck CIO, Grizebeck, Kirkby-in-Furness, Cumbria LA17 7XH Telephone: 07905 779584 Email: enquiries@grizebeckhall.co.uk Website: www.grizebeckhall.co.uk Charity Number 1178759
Fixed assets (Building) are £454,402. Fixed assets (Plant and Machinery) are reduced in value through 10% depreciation to £5,665. Total fixed assets now stand at £460,067.
Our bank account balance at the end of 2024 stands at £31,095 (£10,462 current account and £20,633 savings account) which is over £10,646 less than at the end of 2023!. The use of the hall and car park will continue to be significantly impacted by the new road. Although the car park will be levelled and re-surfaced as part of the road developments, we cannot be sure what the future holds, especially during 2025 and it may take a long time to get back to being as busy and active as we have been in the past. Although we have £31k in our bank accounts this won’t last indefinitely!
Our total assets now stand at £491,162.
The hall is fairly busy on a regular basis although some activities such as the Tuesday cafe and dances are not happening but we continue to have 2 whist drives per month but the hall has been used less frequently for parties and other private bookings. It is difficult to know how things will develop in the future. But essential maintenance will need to be on-going to keep the hall in a good state of repair.
The hall has a Reserves Policy which refers to how much is maintained in the Savings Account to buffer unforeseen expenses and how much in the current account. This is reviewed annually.
As Treasurer, I would like to extend our sincere thanks to all those who have supported us throughout 2024. And a thank you to Andrew Laisby for continuing as our Independent Examiner.
Gay Kelly, Treasurer
For presentation at the AGM on 1[st] May 2025
## **Community Hall at Grizebeck CIO**
Accounts for the Year Ended 31st December 2024
|Income and expenditure Account
Income:
Income from Events including bar
Hire of hall income
Donatons
Grants
Gif Aid
Miscellaneous
Interest savings account
Total Income
Expenditure:
Utlites
Renewal and repairs
Manager
Cleaner
Consumables
Insurance, licences etc
Miscellaneous
Depreciaton charge at 10% straight line
Total Expenditure
Surplus
Balance Sheet as at 31st December 2024
Fixed assets:
Fixed assets: Building
Fixed assets: Building improvement
Fixed assets: Plant and Machinery
Total Fixed assets
Current assets:
Bank accounts
Savings account
Debtors account
Total current assets
Less current liabilites:
Bank Loan account
Other creditors - Accountant
Total current liabilites
Net current Assets & Liabilites
Total Assets less Liabilites
Funds brought forward
Plus surplus in the year to 31st December 2024
Note:
Bank Account Balances at 31st December 2024 are:
HSBC - Current account
- Savings account|2024
£
£
10,026
4,828
351
4,511
0
61
396
20,173
20,173
5,693
7,242
7,027
2,036
37
2,206
6,578
629
31,448
31,448
**-11,275**
£
454,402
5,665
460,067
**460,067**
10,462
20,633
31,095
31,095
0
0
0
0
31,095
31,095
**491,162**
502,437
-11,275
491,162
**491,162**
£
10,462
20,633
**31,095**|2023
10,096
5,988
525
548
0
12,457
238
29,852
4,965
3,624
6,318
2,273
0
2,081
4,596
699
24,556
5,296
£
454,402
6,294
460,696
21,503
20,238
-
41,741
0
0
0
502,437
497,141
5,296
502,437|2022
£
7,980
5,932
370
4,688
0
-192|
|---|---|---|---|
||||18,778|
||||3,382
4,643
5,081
2,040
92
1,736
2,401
777|
||||20,152|
||||-1,374|
||||£
454,402
6,993|
||||461,395|
||||35,746
-|
||||35,746|
||||0
0|
||||0|
||||35,746|
||||497,141|
||||498,515
-1,374|
||||497,141|
|||||